When determining how to price the goods that you sell, if you notice that a lot of consumers want your product, you can typically do what to the price while still meeting the demand and making a bigger profit?

Question

A. cut the price in half
B. raise the price a reasonable amount
C. quadruple the price beyond the going rate
D. offer different prices for different buyers

Answer 1

B. raise the price a reasonable amount

If there is high demand for your product, you can typically raise the price a reasonable amount while still meeting demand and increasing your profits. This approach takes advantage of the market conditions without alienating potential customers.